Product mix strategies slideshare download

The marketing mix is often crucial when deciding a product or brands offer, and is often connect with the four ps. To identify and describe the new product development strategy. The breadth of a product mix shows the different kinds of product lines that firm carries. Marketing mix the 4p strategy of a product ninjaoutreach. Pharmaceutical marketing strategies linkedin slideshare. As of 2020, there are several marketing strategies like productservice innovation, marketing investment, customer experience etc. Lifestyle trading down new products, low priced to the existing line e. A marketing plans main focus is the marketing mix, which consists of product, place, promotion and price decisions. A product mix definition is the list of products andor services a business offers for sale. The width is all about the number of different product lines the company carries.

The marketing mix is a business instrument used in marketing and by marketers. Hero motocorp is one of the leading two wheeler companies in india. Marketing strategies the lux marketing mix strategies in the initial stages of the. Product mix strategies trading up offer high priced, prestige products to their existing product line in an effort to increase the sale of their low priced products and enhance the company image e. Marketing mix slide for powerpoint free download now. Four important dimensions of a product mix can be identified. Thus, taking the above example, if there are 4 product lines within the company, and 10 products within each product line, than the product line width is 4 only. The product strategy and mix in hero motocorp marketing strategy can be explained as follows. Physical evidence the environment in which service occurs. For that the following questions are part of the analysis.

Number of different product lines carries by the company. The different elements of a marketing mix work in conjunction with one another. Winner of the standing ovation award for best powerpoint templates from presentations magazine. Pricing is one of the most vital decisions made by management.

Product line pricing product mix pricing strategies. Simply, it shows the number of items in the product line. Product mix pricing strategies pricing the product mix. You need to do extensive customer research in building a good marketing mix. As marketing mix is the name of four basic elements so the product is the first of these components. A product line refers to a unique product category or product brand a company offers. Existing pricing strategies customers respond well to. In services marketing, an extended marketing mix is used, typically comprising 7 ps, made up of the original 4 ps extended by process, people, and physical evidence.

The 7ps of marketing the marketing mix marketing strategies. Consumer product convenience product customer usually buys frequently, immediately, and with a minimum of comparison and buying effort shopping product in the process of selection and purchase consumers characteristically compare goods based on suitability, quality, price, and style. A companys product mix also called product assortment is defined as the set. Marketing mix refers to determining which elements of the product are necessary for successful selling. While formulating the marketing strategy, product decision include. Firstly the marketing mix also known as the 4 ps is a foundation model. Product mix analyses evaluate different gotomarket strategies to identify the optimal product mix at the customer, regional, or national levels, often extending the scenarios to new product introduction and sku sun. But, now companys have understand the importance of rural marketing they are leveraging their brands and trying to reach.

Jun 08, 2016 and to expand the market to all the cities of india. Product mix product line aspects of product mix strategies of product mix merchandise planning key. Product mix, strategies andproduct line designs for the subject. The demand is modelled as a continuous process that can be applied realistically, considering that the manufacturer accepts anywe assume that the product mix is defined by the company, which cannot influence the overall demand. Marketing mix template slide 3 and 4, marketing mix or 7 ps templates. A product mix is an important consideration for any firm. Setting product strategy how can a company build and manage its product mix and product lines. But, now companys have understand the importance of rural marketing they are. For a company selling dog collars, a product mix example could be all the different styles and designs of collars. Due to its simplicity, the marketing mix slide can be used by everyone even by a person who is not a specialist in marketing. The first of the product mix decisions refers to the product mix width. Worlds best powerpoint templates crystalgraphics offers more powerpoint templates than anyone else in the world, with over 4 million to choose from.

Every minor and major decision is made before the final introduction stage of the. Several concepts and ideas combined together to formulate final strategies helpful in making a brand popular amongst the masses form marketing mix. The product mix constitutes not only a single product line but all the products within an organization. What are the benefits and value delivered to the customer, and how can be enhanced. Marketing mix is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The product mix is the collection of products lines and individual products that a business offers. Product mix concepts product mix set of all products offered by the company for sale product line a group of related products constitute a product line e. New lines may be related or unrelated to the present products. It is designed to meet the companys marketing objectives by providing its customers with value.

Theyll give your presentations a professional, memorable appearance the kind of sophisticated look that todays audiences expect. Product mix and product lines for product strategy submitted to professor sameer mathur. Major types of product mix strategies marketing notes. Jul 14, 2019 the product is ready, so should be the marketing strategies. The major alternative product mix strategies given by william stanton and others have been discussed briefly as under. Elements of an effective product strategy roman pichler. Marketing mix is a greatest strategy for attaining competitive advantage for any firm. As of 2020, there are several marketing strategies like product service innovation, marketing investment, customer experience etc. Service marketing strategies when service firms think of marketing strategies, they usually consider outbound and direct techniques i. Marketing management articles the product mix constitutes not only a single product line but all the products within an organization.

The plc concept trouble can help in identifying which developing good stage of the plc marketing strategies the product is in for different stages difficult to. The model is ordinary and easy to use, and represents a certain checklist for the effective development of the companys product on the market. Chapter 9 productmix strategies a product mix is the set of all products offered for sale by a company. Since firms usually develop product lines rather than single products, product line pricing plays a decisive role in product mix pricing strategies. Apr 08, 2020 a product mix is a group of everything a company sells. Product mix is an important consideration for businesses that have large product or. Expansion of product mix implies increasing the number of product lines. This slide contains a blue hexagon representing the product p of the marketing mix model.

Nov 04, 2012 the product mix is the collection of products lines and individual products that a business offers. Marketing mix of itc analyses the brandcompany which covers 4ps product, price, place, promotion and explains the itc marketing strategy. Important and longterm marketing decisions on product may be termed as product strategies. Our new crystalgraphics chart and diagram slides for powerpoint is a collection of over impressively designed datadriven chart and editable diagram s guaranteed to impress any audience. Product mix and product line understanding product length. Apr 19, 2020 marketing mix of itc analyses the brandcompany which covers 4ps product, price, place, promotion and explains the itc marketing strategy. Thus, product line width is a depiction of the number of product lines which a company has. Marketing executives can choose from a variety of positioning strategies. Then the marketing mix refers to four broad levels of marketing decision, namely.

For example, patanjali deals in different categories of products which include shampoo, flour, toothpaste, etc. The goal, in this approach, is to be persuasive and compelling so that your audience responds to and engages with the service offered. Hero motocorp has a wide and strong product portfolio in its marketing mix consisting of 25 twowheeler models. Stp marketing mix for powerpoint the segmenting, targeting and positioning stp marketing mix powerpoint template is a professionally designed processdata model that can be used in lectures, seminars and workshops by marketing professionals to demonstrate the process of segmenting, targeting and positioning as a means of deciding how best to. Marketing strategies in this stage, lux marketing mix strategies are based on. Strategies for marketing mix of 4ps for competitive advantage the marketing mix by 4ps is a conjuration and it can only be implemented by marketing managers. The segmenting, targeting and positioning stp marketing mix powerpoint template is a professionally designed processdata model that can be used in lectures, seminars and workshops by marketing professionals to demonstrate the process of segmenting, targeting and positioning as a means of deciding how best to optimise the marketing strategy of a business model or product release. Marketing mix product strategy marketing mix definition. Understanding the basics of a product mix will help you understand why it is so important to your organization.

Pharmaceuticals marketing strategies muhammad ali email. Development of successful product mix strategies depends on analyzing existing products for market growth and market share. It is also a tool to help marketing planning and execution. This will tackle about the product length, width, depth, consistency etc. Our 4ps of marketing mix ppt helps to cope with this task. The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. To build your strategies, you need a solid understanding of your historical sales transaction. Download unlimited powerpoint templates, charts and graphics for your presentations with our annual plan. This dimension of the product mix represents the extent to which the activities of the firm are diversified. Total number of items in the product mix of the company. The product is ready, so should be the marketing strategies. Get access to 16,000 woodworking plans, download 50 free plans. Product is the vehicle, medium, or means by which consumers can satisfy their needs. Product mix, strategies and product line designs slideshare.

Creating a successful product requires attention to the details, from getting the user interaction and the visual design right to providing the right functionality and using the right technologies. Each of these product lines is intended to attract a specific customer. Product mix decisions width, length, depth and consistency. Product strategies in rural marketing management paradise. The total assortment of products and services marketed by a firm. Top 8 alternative product mix strategies your article library. Chart and diagram slides for powerpoint beautifully designed chart and diagram s for powerpoint with visually stunning graphics and animation effects. The study and practice of marketing have broadened considerably, from an emphasis on marketing as a functional management issue, to a wider focus on the strategic role of marketing in overall. Product is a good or service that a company produces. A marketing strategy typically has a 3 to 5 year horizon and is supported by annual marketing plans that include a detailed action plan and timeline, a budget, and monitoring. The marketing 4ps strategy has been defined as the set of marketing tools that the firm uses to pursue its marketing objectives in the target. Once the results of the formative research are available, the next step is to identify goals and develop the marketing strategy. Price is the only marketing mix variable which leads to profits, the others are.

Sometimes organization instead of developing a complete new product improve and establishes product that. For example, bajaj company adds car unrelated expansion in. Price is a market instrument and an index of the economic and social reality lefter, et al. This stage involves briefing different departments about the duties and targets. A product mix is a group of everything a company sells. And to expand the market to all the cities of india. Marketing mix model is the main element of any business strategy. The 4 ps of the marketing mix are related, and combine to establish the products position within its target markets. A broad group of products, intended for essentially similar uses and having similar physical characteristics, constitutes a product line.

Identify appropriate marketing strategies for products in different life cycle stages. Price is the only marketing mix variable which leads to profits, the others are generating only expenses and investments. Ppt the marketing mix powerpoint presentation free to. May 22, 2020 the width of the product mix is equal to the number of product lines within a company. There were numerous efforts to raise the number of ps out of 4 to 7ps within the. Nov 26, 2018 marketing mix template slide 3 and 4, marketing mix or 7 ps templates. Preparing the report or analyzing the product, this slide will let you present data and information received clearly, make your report coherent. Marketing mix a mixture of several ideas and plans followed by a marketing representative to promote a particular product or brand is called marketing mix. Discuss different productmix and product line strategies. Product mix whatifs include evaluations of different product mix strategies including assortment and sku portfolio optimization. Marketer can satisfy needs and wants of consumers by product. A marketing plan is the central part of the overall marketing strategy. It consists of everything that a company can do to influence demand for its product. For example, when you look at a car brand such as audi, you will see a relation between the different series and their prices.

For the product, it is important to develop the right product for your target market. Product the lux has made the modification in the product by introducing. As mentioned in the previous example, colgate has 3 product lines. Apr 08, 2015 marketing mix seminar and ppt with pdf report. It offers the ability to expand your customer base by offering more products in more niches. An effective marketing strategy combines the 4 ps of the marketing mix. Each product within the structure forms a part of the product mix. The objective is to eliminate lowprofit products and to get more profit from fewer products. Another product strategy is to narrow the product mix, either by eliminating entire line or by simplifying the assortment with in a line. Product mix is very helpful to design and produce new or customized product with short leadtime. Nearest metro station samaypur badli or rithala marketing mix making your product available to the right customers,at the right place and time. Knowing your competitors and your target market will give you an idea on coming up with a product that appeals to customers.

With so much focus on the nittygritty, its easy to no longer see the wood for the trees. Jan 14, 2019 6 types of product mix pricing to push products in the market january 14, 2019 by hitesh bhasin tagged with. Product relationships that drive the most margin this list isnt exhaustive, but its a good starting point. The part of the marketing mix is always to help create a bundle that wont just fulfill the requirements of your customers in the target market segments, but at the same time to optimize the overall performance in the business. The marketing mix and the 4 ps of marketing are often used as synonyms for each other. A free powerpoint ppt presentation displayed as a flash slide show on id. Product mix strategy and manufacturing flexibility.